Advise TT fee

Rachna_83

Ex is buying my share of the marital house. I've received the paperwork and it says that I can be paid via TT transfer but it will incur a cost of £35+vat.
Do I need to pay this as the person receiving the money? Court order also states that ex 'shall pay the solicitor’s fees in connection with the transfer'.
Would this fall under that?

user1977

Nobody needs to send it to you by CHAPS, so it's up to you to pay the charge if you want it faster.

canaldumidi

I assume your ex will pay his solicitor, who will pay your solicitor, who is offering to pay you by TT? If so, you could instruct your solicitor to send you a cheque instead. Takes longer but it's free.

Or is the TT cost between ex's solicitor and yours? In that case it would normally be your ex (the seller) who pays the TT fee, so I suspect not.

Whether the TT fee falls within the court order for ex to pay 'solicitor's fees' I'm not sure. It's a disbursement, not a legal or solicitor's fee........

Rachna_83

It's the lump sum payment just under £100,000

GoogleMeNow

Solicitor TT fees are around the £35 + VAT mark.  I guess you need to decide whether you or your ex pays it, or whether you are happy to receive a cheque, although some solicitors will not issue cheques for amounts higher than £5k.  Is the solicitor acting for you or for your ex?  If your ex, I wonder if they will include the fee on his bill.

saajan_12

Rachna_83 said:

Ex is buying my share of the marital house. I've received the paperwork and it says that I can be paid via TT transfer but it will incur a cost of £35+vat.
Do I need to pay this as the person receiving the money? Court order also states that ex 'shall pay the solicitor’s fees in connection with the transfer'.
Would this fall under that?

Is the TT transfer the only way that ex / solicitor is willing to pay? 
The fees for transfers from ex -> their solicitor -> your solicitor would probably be at ex's cost, as its their responsibility to make that happen.
However from your solicitor -> you, if they are able to pay any other way then you would have to wait for that method, or pay the extra £35 if you choose to get it faster. If they can't pay any other way, then debatable what exactly 'solicitor's fees' covers. 

Rachna_83

Ex is taking out a mortgage to pay me if that makes any difference. 

canaldumidi

Rachna_83 said:

It's the lump sum payment just under £100,000

Rachna_83 said:

Ex is taking out a mortgage to pay me if that makes any difference. 

Neither makes any difference.

The other option is to see if your solicitor would be willing to pay cash. Take a suitcase to their office, ideally as well as a couple of security guys. Though I suppose the security would cost more than the TT fee. 'fraid I'm not familar with their rates so that's just a guess.......!

Rachna_83

canaldumidi said:

Rachna_83 said:

It's the lump sum payment just under £100,000

Rachna_83 said:

Ex is taking out a mortgage to pay me if that makes any difference. 

Neither makes any difference.

The oter option is to see if your solicitor would be willing to pay cash. Take a suitcase to their office, ideally as well as a couple of security guys. Though I suppose the security would cost more than the TT fee. 'fraid I'm not familar with their rates so that's just a guess.......!

🙄 Thank to everyone else for their more constructive comments and advise